Kiboko Closes Private Placement and Completes Share Consolidation

Executive Summary

• Kiboko Gold closed a non‑brokered private placement, issuing 12.75 M units at $0.08 per unit for total gross proceeds of $1.02 million.
• The company completed a 1‑for‑10 reverse stock split (share consolidation) immediately prior to the financing, resulting in 17,163,709 post‑consolidation common shares outstanding.
• Net proceeds will be used for general corporate and working capital purposes; the placement remains subject to final TSX Venture Exchange acceptance.

Key Details

• Private Placement Structure: 12,750,000 units; each unit = 1 post‑consolidation common share + 1 transferable warrant.
• Pricing & Proceeds: $0.08 per unit → $1,020,000 gross proceeds (net amount not disclosed).
• Warrant Terms: Each warrant allows purchase of one additional common share at an exercise price of $0.12, exercisable for 2 years from issuance.
• Share Consolidation Ratio: 1 post‑consolidation share for every 10 pre‑consolidation shares.
• Post‑Consolidation Share Count: 17,163,709 common shares outstanding after the consolidation.
• Trading Impact: Common shares began trading on a post‑consolidation basis at market open on January 23, 2026; new CUSIP 493734206, ISIN CA4937342067.
• Statutory Hold Period: All securities issued are subject to a four‑month‑plus‑one‑day hold period under Canadian law.
• Use of Proceeds: Funds earmarked for general corporate and working capital purposes.
• Regulatory Conditions: Private placement pending final acceptance by the TSX Venture Exchange; consolidation approved by the exchange (bulletin issued Jan 21, 2026).

Notable Quotes

(No direct quotes were included in the release.)